Business need - Help me pay my taxes!
Issue #185
resolved
So after looking to tax laws, I realized that the need to keep track of and record coins earned daily and the price of the coin is essential. According to the IRS, coins mined need to be recorded daily along with the "market value" of the coin. This then allows me to pay taxes for initially mining the coin. Then I have to pay taxes on gains/losses when I sell them but that is something I can take care of easily.
The only thing I need is to lock in a 24 hour period day by day (instead of rolling like it is now) that tells me how many coins I mined and also what the high and low price is for the coin over the same 24 hour period. You can make this a premium feature, I know I am more than willing to pay extra for this page. If it could have 7 days saved then I could come back weekly and save it or even better yet, export it as a excel or CSV.
Comments (9)
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repo owner
i really like this idea and will definitely work on it. it basically means I need to store historical data for currencies but I believe it's doable
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That makes sense, if you want to charge for the storage, I think people will have no issues with that... you could do x amount for 1 week of storage, y amount for 1 month, and even z amount for 1 year's worth. I would be willing to pay fees as long as it makes my taxes a breeze! To all reading this, make sure pay the uncle sam otherwise we will all pay for it one day...
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repo owner
cryptocompare allows pricehistorical. create service to store value
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repo owner
CAP3r5 I don't think charging for any service is really worth it unless i track via a Paypal based subscription payment or something like that. I'm not sure i want to charge. I am also more worried about legal implications. if the site says your made x and you based on that your pay taxes and irs disagrees, you'd be out a lot of money. if it's free site for informational purposes you can get a report from the site but you still have to vet it. paid = service which I am not legally certified to offer
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JaymZZZ NA, That makes complete sense... I can't believe I didn't think of th implications of charging for the service.. I hope you are getting more than enough through donations because you definitely deserve it!
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Wow thanks for working on this so quickly! It looks like the graphs now have the earning per day locked in at what it was based on crypto prices of the day which is very helpful. I was wondering how you can see those historical values on the stats page?
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repo owner
i found an API that lets me see historical values for coins. the payout stats i pull from history. the report will be ready sometime tonight i think
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repo owner
- changed status to resolved
Fixed
#185→ <<cset 6707fde92e6f>>
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Sorry, this was submitted by me... I forgot to log in before submitting this request... Please let me know if something like this is possible or if it was unclear in any way. Also thanks a lot for everything you have done for the community so far, you are a saint!